Trying to Keep Your Home? Boxing with the Bank Part 3

Trying to Keep Your Home?

San Diego Loan Modification News

Are you working with your bank to keep your home and save your home from foreclosure in, maybe working on a loan modification?

My San Diego Short Sale Negotiator is a recovering former employee of Chase. He shared some information that was both shocking and disturbing for lack of better words, especially for those trying to save their home from foreclosure. The information was so crazy and thought provoking I had to break it into a few short series of posts. This is the first and final post. Boxing with the Bank # 1
Boxing with the Bank #2.

Now that we understand the banks that you are working to keep your home are actually trained not to like you and want to keep you in negotiations as long as possible what does that mean for you? Is it a bad thing that they want to work with you for a long time? 

It depends, if you want to keep your house and work something out with them yes. By prolonging your resolution and increasing the amount that you owe makes it impossible for you to ever pay them back if they don't approve your modification. If they decide not to do the modification then you are out of luck and can’t save your home.

However if you are just staying in your house because you like the payment free living arrangement, it isn't such a bad deal.

Be aware however that the investors have caught on to the banks and aren't allowing them to keep you in limbo for prolonged periods of time. They are telling the banks to send the houses to be auctioned on the court house steps. They only have to give you 21 day notice to sell your house! 

The sad thing is many people think they are working with the bank on a loan modification, get the notice that their modification was rejected and your house goes to auction at the end of the month. That is a stunning blow for people that thought they were going to get to keep their house. 

What do you do if you get that notice posted on your door or gate that your house is going to auction? What ever you do, don't let your home go into foreclosure. It is unnecessary and harder to recover from.

Call me 619.316.7445 immediately so we can get that sale put on hold free of charge. That gives us a little time so we can discuss your options and what you want long-term. We can figure out what would be the best for your financial future. Remember there are options available. And now is the best time to be in financial trouble because you aren’t alone, unfortunately we are surrounded by people in the same boat. If you aren’t in the San Diego area, still call me and I can get you to someone in your area that can help you, again at no charge. We are here to help.

About the Author: Rachell Lara is a mother of three and San Diego Native. She is living her passion helping others love their lives by investing in their lives and futures with real estate. She is making the world a better a better place through service, appreciation, love and of course humor.

For those in San Diego trying to keep their home Please CONTACT her directly to consult to see what your best strategy with the bank may be. For those outside of San Diego, she can refer you to great sources in your area.

 For more information about this topic and real estate in general, please visit her www.LaraProperties.com, or at any of these other social media sites.